Former Nigerian president, Chief Olusegun Obasanjo has declared that the fuel subsidy removed in June 2023 by President Bola Tinubu’s administration has been brought back due to inflation.
Obasanjo stated this in a short news documentary film recently published by the Financial Times.
This is even as he faulted how President Tinubu removed the fuel subsidy without putting measures in place before the removal.
“There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy.
“Because of inflation, the subsidy that we have removed is not gone. It has come back,” the former President stressed.
He said there must be investor confidence in Nigeria.
“You have to go from transactional economy to transformational economy”, he added.
His remark comes amid the ongoing hunger protests in Nigeria.
The protests, which commenced on Thursday, entered day 6 on Tuesday with a major demand for the return of the fuel subsidy regime.
Ripples